Gov’t set for massive CLICO pay-out; but not to the shareholders

At least one body is celebrating a turn of events within the CLICO fiasco today; and it isn’t the long-suffering shareholders.

Over 100 shareholders are yet to recoup millions in losses, three years after CLICO crashed, while Senior Counsel Fyard Hosein claimed to have received no explanation for being suddenly relieved of the legal brief for the CLICO Commission of Enquiry by Finance Minister Larry Howai.

Even worse, former Attorney General Ramesh Lawrence Maharaj SC said the change in lawyers would significantly increase the cost to taxpayers as the Finance Ministry’s new legal team, headed by COP chairman Joseph Toney and Law Association president Seenath Jairam SC, must be paid to revisit stacks of paperwork already filed.

The COP, a political party that claims to represent “new politics”, did not mind doing a two-step dance routine on Hosein’s pain and the bewilderment of sections of the population yesterday.

Toney told one Trinidad Express reporter, who called to enquire about the CLICO brief, that he hoped she was calling to congratulate him for being “able to get a bit of work.”

Ramadhar, whose party claims to represent “new politics”, described the firing of State employees without apparent grounds as a symbol of the People’s Partnership’s fairness in the re-distribution of portfolios.

CLICO shareholders, like many other citizens, are probably waiting to see if some fairness eventually trickles down to persons without political connections.

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